Hassans was delighted to advise The Sovereign Group, provider of corporate, private client and retirement planning services, on their acquisition of STM Fidecs Management Limited (FML), the Gibraltar-based trust and company management arm of the AIM-listed STM Group and one of the longest-standing and most prominent fiduciary businesses in Gibraltar. The transaction completed on the 24th March 2021.
Rebranding as Sovereign Fiduciary Services Limited, 18 of FML’s existing staff will be relocating to the new offices of Sovereign Trust (Gibraltar) Limited. As part of the deal, the Sovereign Group has also acquired the Gibraltar-based tax advisory company STM Fiscalis Limited, which is to change its name to Sovereign Fiscalis Limited.
Ian Felice, Corporate Partner, led on the transaction assisted by Associate Tania Rahmany. Nicholas Howard, Grahame Jackson, Michael Nahon and Darren Martinez also contributed in their respective practice areas.
Commenting on the transaction, Ian Felice said:
“We were delighted to assist The Sovereign Group on their recent acquisition of the entity now known as Sovereign Fiduciary Services Limited. This is an exciting transaction in the local fiduciary industry, and a strong commitment by Sovereign in this field. We wish the expanded Sovereign team all the very best, especially in their impressive, new, Main Street home.”
You can read Sovereign Trust (Gibraltar) Limited’s full press release here.